Bourbon’s first half revenues totaled $445m, up 14.6 percent compared with the same period in 2005. The Offshore Division, which is the beneficiary of the largest portion of Bourbon’s investments within the Horizon 2010 plan ($1.6b), remains the growth driver for the company. Revenues for the Offshore Division rose 32.4 percent, or 27.1 percent at constant exchange rates, over the same period in 2005. This growth reflects the implementation of the 2003-2007 plan and was driven in the first half by the delivery of 15 new vessels (six supply vessels and nine crewboats).
In addition, two vessels were chartered to meet the needs of our customers. In the Africa zone, which benefited from the largest number of new vessels commissioned, growth rose to 45.7 percent over the same period in 2005. In addition, the Offshore Division initiated its expansion in Asia. Growth in the Offshore Division should
continue in the second half. In accordance with the plan, deliveries of new vessels will increase the fleet dedicated to modern offshore with the commissioning of new-generation, innovative vessels offering high productivity. Revenues for the Bulk Division will continue to be influenced by the level of cargo rates.